This Lidar Leader Is Up 108% on a Red-Hot Run

• Ouster (OUST) shows strong technical momentum and hit a new 52-week high on Friday, June 20.
• OUST has a 100% technical “Buy” signal via Barchart.
• Shares have more than doubled over the past year.
• Fundamentals are robust and analyst sentiment is moderately bullish. 

Today’s Featured Stock:

Valued at $1.2 billion, Ouster (OUST) is a provider of high-resolution digital lidar sensors for industrial automation, robotics, smart infrastructure and automotive industries.  

What I’m Watching:

I found today’s Chart of the Day by using Barchart’s powerful screening functions. I sorted for stocks with the highest technical buy signals, superior current momentum in both strength and direction, and a Trend Seeker “buy” signal. I then used Barchart’s Flipcharts feature to review the charts for consistent price appreciation. OUST checks those boxes. Since the Trend Seeker signaled a buy on May 9, the stock has gained 103%.

OUST Price vs. Daily Moving Averages:

Barchart Technical Indicators for Ouster:

Editor’s Note: The technical indicators below are updated live during the session every 20 minutes and can therefore change each day as the market fluctuates. The indicator numbers shown below therefore may not match what you see live on the Barchart.com website when you read this report. These technical indicators form the Barchart Opinion on a particular stock.

Ouster shares hit a new 52-week high on Friday, June 20, touching $22.40 in intraday trading. Shares closed just 3.9% below the new high.

• Ouster has a 100% technical “Buy” signal.
• The stock recently traded at $21.56, above its 50-day moving average of $11.51.
• OUST has a Weighted Alpha of +99.54.
• The stock has gained 108.3% over the past year.
• OUST has its Trend Seeker “Buy” signal intact.
• Ouster is trading above its 20, 50 and 100-day moving averages.
• The stock has made 13 new highs and gained 106.5% in the last month.
• Relative Strength Index is at 74.16%.
• The technical support level is $20.56.

Follow the Fundamentals:

• $1.2 billion market cap.
• Revenue is projected to grow 29.75% this year and another 36.11% next year.
• Earnings are estimated to increase 60.35% this year and an additional 39.10% next year.

Analyst and Investor Sentiment on Ouster:

I don’t buy stocks because everyone else is buying, but I do realize that if major firms and investors are dumping a stock, it’s hard to make money swimming against the tide.

It looks like not only Wall Street analysts, but also many of the popular investing advisory services, are moderately bullish on this stock.

• Wall Street analysts tracked by Barchart issued four “Strong Buy” and two "Hold” opinions on the stock.
• Value Line gives the stock an above-average rating.
• CFRA’s MarketScope rates the stock a “Sell.”
• MorningStar thinks the stock is 11% overvalued.
• 23,120 investors monitor the stock on Seeking Alpha, which rates the stock a “Strong Buy.”

The Bottom Line:

Ouster currently has momentum and support from both the market and individual investors and seems to be beating its competitors Luminar (LAZR) and Innoviz (INVZ).

I caution that OUST is volatile and speculative — use strict risk management and stop-loss strategies.

Additional disclosure: The Barchart of the Day highlights stocks that are experiencing exceptional current price appreciation. They are not intended to be buy recommendations as these stocks are extremely volatile and speculative. Should you decide to add one of these stocks to your investment portfolio it is highly suggested you follow a predetermined diversification and moving stop loss discipline that is consistent with your personal investment risk tolerance.